Eruditus raises $350 mn in debt from CPPIB to finance M&A activities

The pipeline of potential acquisitions is expected to contribute up to 30 per cent of its online arm's top line and EBITDA in the next five years, the company said

Educational services company Eruditus has raised $350 million in debt financing from Canada Pension Plan Investment Board (CPPIB) for Emeritus, its online arm, to fuel mergers and acquisitions as part of a global growth strategy.

“With a year-on-year growth rate of 120 per cent, Emeritus estimates gross bookings of $500 million for the financial year. As the company continues to grow 2.5X organically, Emeritus will also accelerate growth through inorganic initiatives,” the company said.

“The pipeline of potential acquisitions is expected to contribute up to 30 per cent of Emeritus’ top line and EBITDA in the next five years,” it